The annual rate at which contracts for a home purchase were drawn increased 6.9 percent from one year ago.
According the National Association of REALTORS® (NAR), the Pending Home Sales Index rose 5.2 percent in October, crossing the benchmark 100 reading, and moving to 104.8.
In July, the third time this year, the Pending Home Sales Index crossed its benchmark value of 100, moving to 101.7.
The Pending Home Sales Index is on a 14-month winning streak.
Home resales slipped more than 5 percent last month, putting a damper recent housing market enthusiasm.